SEC charges against Fannie Mae and Freddie Mac execs are 'effort to rehabilitate reputation'


The US Securities and Exchange Commission's (SEC) prosecution of former Fannie Mae and Freddie Mac executives is an attempt to overhaul its tarnished reputation, a legal expert says.

The SEC brought civil securities fraud charges against six former top-level Fannie Mae and Freddie Mac employees on December 16, alleging they knew and approved of misleading statements – in particular, claims the companies had minimal holdings of higher-risk mortgage loans, such as subprime loans.

The individuals

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